Martin Marietta Materials, Inc. has announced that its Board of Directors approved a 4% increase in its quarterly cash dividend, raising it from US$0.55 per share to US$0.57 per share on the company’s outstanding common stock. This dividend, which represents a cash dividend of US$2.28 per share on an annualised basis, is payable on 30 September 2020 to shareholders of record at the close of business on 01 September 2020.
Ward Nye, Chairman, President and Chief Executive Officer, stated, “Martin Marietta is proud to extend our track record of delivering meaningful and sustainable dividends as part of our balanced capital allocation strategy. Supported by our strong financial position and durable business model, today’s announced dividend increase underscores our continued confidence in our company’s future performance and cash generation as we responsibly navigate the current uncertainties presented by the COVID-19 pandemic and drive long-term sustainable growth and shareholder value.”
Read the article online at: https://www.worldcement.com/the-americas/14082020/martin-marietta-increases-quarterly-cash-dividend/